Find the Necessary Sample Size

question 60

Multiple Choice

Find the necessary sample size.
-The monthly earnings of a group of business students are are normally distributed with a standard deviation of 545 dollars. A researcher wants to estimate the mean monthly earnings of all business
Students. Find the sample size needed to have a confidence level of 95% and a margin of error of
128 dollars.

• A)2
• B)5
• C)61
• D)70

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Definitions:

Communicating Accounting

The process of effectively conveying financial information and analyses to stakeholders through various means such as reports and presentations.

Financial Information System

A computerized system that collects, processes, stores, and reports financial data to assist in decision-making and control.

Dollars and Cents

The basic units of currency in many countries, including the United States, representing the monetary value of goods, services, or financial transactions.

Accounting Information

Data related to the financial transactions and status of an organization that is used for analysis, planning, and decision-making.